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- The court approved a payout of $11M, including $2.9M in attorney fees, to Astrals NFT buyers.
- O’Neal promoted the Solana-based NFT project during its peak via Discord.
- The case claimed O’Neal acted as a direct seller of unregistered digital assets.
A federal court in Florida has approved an $11 million settlement between Shaquille O’Neal and buyers of Astrals NFTs. The lawsuit, which accused O’Neal of promoting unregistered securities, has now reached its legal conclusion. The decision was issued by Judge Federico Moreno on April 8.
Settlement Terms Finalized After Months of Legal Proceedings
The court ruling confirmed that up to $11 million will be paid to eligible individuals. The figure includes $2.9 million in attorney fees. The case centered on digital assets sold between May 2022 and January 15. The buyers included those who purchased Astrals NFTs or the related GLXY tokens. Plaintiff Daniel Harper filed the class action suit in May 2023. He claimed that O’Neal used his influence to promote the project.
The lawsuit stated that O’Neal endorsed Astrals NFTs through online communities. He also took part in the project’s Discord channel during its active phase. The Astrals project featured 10,000 Solana-based NFTs tied to a virtual world experience. Buyers could engage with others in the online space, which included direct interaction with O’Neal.
During the NFT market’s peak, O’Neal shared memes and messages with community members. One message mentioned in court was O’Neal’s use of a popular meme that read, “I’m not f***ing leaving.” This moment was highlighted as part of his promotional conduct. Court records stated that this added to the project’s public visibility and engagement
NFT Value Decline Followed Market Downturn
As crypto and NFT markets declined in 2022 and 2023, the Astrals project lost momentum. Many buyers reported significant losses in the value of their tokens. O’Neal was accused of distancing himself from the project during this downturn.
The court determined that a legitimate legal claim existed. It indicated that O’Neal acted as a direct seller of the tokens. This opened the door for settlement negotiations, which concluded in November 2024. The Astrals lawsuit is not the only legal matter involving the NBA Hall of Famer. O’Neal is also a defendant in a separate case concerning the failed crypto exchange FTX.
In that case, attorneys reported challenges in serving court papers. He was eventually served during a Miami Heat game held at the former FTX Arena in May 2023. Both lawsuits raise questions about celebrity participation in digital asset promotions. The court’s approval of the Astrals settlement brings the class-action case to an official close.
